OMERS 2021 Annual Report

Strong returns in 2021

OMERS is pleased to share our recently released 2021 Annual Report, which details our performance for the year. As communicated in the Letter from the CEO, our Plan earned a return in 2021 of 15.7%, net of expenses, which equates to $16.4 billion of net investment income. This result exceeded the Plan’s absolute benchmark return of 6.6% by more than $9 billion, growing OMERS net assets to $121 billion at December 31, 2021.

As we look to the future, the Plan faces some challenges. The Plan is not fully funded and at December 31, 2021, OMERS funded ratio on a smoothed basis stood at 97%, measured based on a real discount rate of 3.75%. The Plan is maturing, and we expect the number of retired members collecting pensions to increase and outpace the growth of our active members who contribute to it. In addition, there is a risk of a challenging investment environment ahead. Addressing these challenges requires a continued focus on the future and ongoing efforts to improve the Plan’s long-term resilience.

To learn more about both our 2021 results and the steps being taken to improve the Plan’s resilience, see our Annual Report Highlights.